Employee satisfaction is the root of success for any firm, big or small. Your employees are your driving force, and as much as you instruct them, you won’t be able to move forward if they do not provide the results you need.

It has been a topic of conversation for many decades now. Maslow presented the hierarchy of needs model in 1943, proving how long this matter has been sustained. The results you achieve, the growth your company experiences, and the revenue it generates are directly proportional to the productivity of your employees.

Maslow introduced a Hierarchy of Needs, a one-size-fits-all type. When you establish yourself at a new job with new people, you first look for fulfilling necessities. We look for our income to accommodate our basic needs, such as food, water, warmth, and shelter, a roof over our heads. Once we achieve that, we grow slightly confident and move forward.

As we move forward, we become more involved in our work environment and seek job security and safety, confirming that you’ll have money coming in every month. You then move on to greater purposes that focus more on your desires and less on your necessities. It enables confidence and an increase in belief in yourself. When that happens, you grow.

Further, healthy emotional health starts playing a role in this evolution because your emotions are now tied to your job. You start developing an attachment to your workplace. Once this happens, you subconsciously rely on it for support since you spend more of your day with your co-workers.

Attachment to a specific something also leads to some form of expectation. Therefore, it becomes the employer’s job to ensure their employees are doing well emotionally.

Emotional Well-Being

Employee Satisfaction is wired with your employee’s mental well-being. If your employee is not performing well, they are not feeling well. For a second, think about why an employee whose production rate is 98% has suddenly dropped to 59%. There is an issue. It is not just a professional issue now; it has become personal.

Your employee comes into work every morning at nine and leaves 9 hours later, generating you revenue every minute that they are there. A low performance occasionally is typical; however, if your employee’s emotional health affects their work rate, it becomes a grave issue. Your employees are not just people working for you; they are your responsibility, making employee satisfaction a part of your job specification.

Kirsty Jagielka from Cigna writes, ‘With emotional well-being concerns often lasting for many years, early intervention is vital. The right support at the right time can help your employees to achieve positive emotional well-being and enable them to remain productive members of the workforce.’ Your employees breed results; they can either raise you from the ashes or drive you into the ground.

Avoiding Burnout

Burnout can also drive people to quit their jobs. Reaching a point of burnout indicates you have been overworked for a while now, and it has eventually reached a point of no return. It also shows how your employers might have ignored it for it to get such a point.

It takes a toll on an employee’s emotional well-being, making them question their place in the firm. Burnout suggests you are giving more than receiving, which can impact how one views their firm. 

It can lead to employees quitting their jobs. It can be incredibly detrimental to the firm’s health because they are losing an employee and a trained employee who knows the ropes of the system. The firm must now invest time and energy into training someone else. That is not the only result they will have suffered. The situation can get worse when the reason an employee left gets out.

Conclusion

Your employees are your responsibility. You can tell yourself as an employer that there are more significant matters to prioritize, but you need to realize that if you prioritize your employee’s emotional well-being, you will not need to prioritize anything else; they will do that for you.

Richard Branson once said, “Take care of your employees, and they’ll take care of your business.” Your employees are your firm’s greatest assets, and you realize that is your greatest asset. When you consider an interviewee for your firm, you know they can handle it. It then also becomes your job to take care of them.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When you launch your business, you must ensure your data is backed up somewhere. That ‘somewhere’ should be a place you are familiar with, such as cloud storage. Before you start using the cloud for data storage, there are many security measures you need to consider. 

All data must be backed up, from your staff’s personal information to the data you receive from your clients, payments, and much more. That’s why knowing the security measures is necessary before selecting the application to save your data. Cloud storage is the safest place to back up your data.

Cloud storage is a form of data storage where digital information is saved in logical pools, not in a physical hard drive. Many companies use cloud storage as it gives a new level of reassurance. Your business data on the cloud, such as important documents, videos, and images, won’t be lost once saved on the cloud.

Another thing about cloud storage is that anyone in the company (authorized personnel) can access it anywhere. They only need an internet connection and authorization to access cloud storage anywhere.

Here are the best cloud services:

• Google Cloud platform
• Microsoft Azure
• Dropbox
• iCloud
• Amazon Drive
• Nextcloud

Now, there are two types of clouds: private cloud and public cloud.

Public cloud – Operated by a third party. You will pay for the service, and the host will be responsible for storing the data.

Private cloud – You are responsible for operating, saving, and opening the data.

Benefits of Business Data on the Cloud

Scalability and flexibility – With the help of the cloud, you can quickly increase your business storage according to your needs. You can also decrease it. In the cloud, the solution can soon adapt according to preferences.

Remote collaboration – With your business on the cloud, you can easily access your data. You can also control who can access it.

Automatic backup – When you save your business data on the cloud, the data gets automatically backed up.

Reduced costs – With your data on the cloud, you can save sufficient money.

So, these were the benefits of saving your business data on the cloud. The fundamental question remains whether backing up your business data on the cloud is safe. The answer is yes; it’s safe to back your business data on the cloud.

The data you have saved on the cloud is safer than the data stored on your computer. It has more protection layers than any other system and can keep the data secure on your cloud if something happens to the computer.

Event Logging

Whenever someone opens your data on the cloud, it will notice the logging and keep a list. For example, if someone in your company opened it on Monday at 3 p.m. and Tuesday at noon, there will be a record of every time someone accessed it. This way, it evaluates the threat and keeps your business data on the cloud safe.

AI Tools

A few cloud servers use artificial intelligence to secure the business data saved on them. With the help of these artificial intelligence tools, a defense layer forms so that the professionals stay focused on the threats.

Firewalls

When you save business data on the cloud, it remains safe due to the firewalls. There are two types of firewalls: internal and advanced. These walls ensure that the direct traffic goes through a series of security defenses.

Redundancy

This point refers to the several copies of business data on the cloud backed up. If the computer goes through any failure, there will be a backup of your data on the cloud, and you won’t have to worry about losing it.

Third-Party Security Checking

Many companies that provide cloud services check up on other security companies to see if their program has the same level of security. This way, the cloud service company will be on its toes to ensure your data is perfectly safe.

So, these were the points about cloud security. If you are running your business, you should consider saving your company’s data on the cloud so that it remains secure and nobody outside the company can hack into it.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When you think of investing in a business, we are sure you wouldn’t have ever considered investing in trees. Isn’t that so? Well, nobody would have thought of that. Even saying that sounds so foreign, like a strange combination of words rolling off your tongue.

But no matter how odd it may sound, many people invest in the Timber market, and they know it’s the best decision they have ever made in their life (apart from their spouses if they are reading it beside you!)

We know lumber is a commodity used for furniture, paper, and burning. But why would you invest in something that is used for burning? That’s the beauty of this investment. Here are five reasons you should invest in the timber market.

Steadiness and Reliability

As you enter the timber market, you will realize how steady and reliable this business is. There are many other businesses that you can invest in, but it’s a rollercoaster ride with them. Why take the risk when you have a much more reliable investment option?

Even in 2020, many businesses lost money due to the pandemic. Like that, other businesses are not that steady, and if you aren’t a fan of uncertainty, you should invest in the timber market. It’s a stable and reliable business.

Once you see it, you will understand how you earn money through this business. It’s not like stocks and bonds. You will get a paper, and you will have to assume that there’s a legit company behind it.

When individuals think of investing in the timber market, they check out the timberland themselves. You should know before investing that old trees cost more than young trees. And it would help if you kept hold of young trees for them to grow old.

Easy Investment

When you invest in the timber market, you invest in the timberland. All you have to do is sign the papers; the land will be yours. If you aren’t willing to invest in the timber market directly, you don’t need to worry because you can invest without involving the direct ownership of the land. But how?

You can invest indirectly through a real estate investment trust (REIT). REITs are trusts investing in real estate. You can easily invest in the timber market for as much money as you wish through timber-focused REITs.

It’s Convenient

When you invest in the timber market, you don’t have to do anything. You sign the papers, hold the timberland, and other things will get simple for you. Either you lease the land or sell the trees to someone, and the investment will eventually pay off in large sums. Also, if you are saving the forest project called reforestation, the income can come in significant ways.

Many invest in the timber market, hoping to pass it down to their grandkids.

A Hedge Against Inflation

This investment saves the investors from significant losses when there is a fluctuation in the currency. Some people opt for gold because it’s an asset that can keep you when the country’s economy is down. But if you wish to save yourself from the game of insurance, wild swings, and holding fees, you should invest in the timber market.

It’s proven to be one of the effective ways to save investors money when the value of a country’s currency begins to decline. 

Good Land is Valuable

Investing in the timer market means investing in a good, profitable land. When there’s land with older trees, the profit will come through harvesting. The investment won’t go in vain when there are younger trees because you will be living licenses to the anglers and hunters.

Investing in the Timber market won’t make you regret it because the volume of trees keeps increasing, which adds value no matter the situation of the state’s currency. Even if timber prices aren’t in favor, the timber stock can be saved up and grow until the prices are in favor again. Investing in the timber market rather than stocks, gold, and bonds is better. You can enjoy while owning timberland without worrying about losing money in stock or bonds.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Amazon Affiliate Marketing: Turn Your Product Knowledge Into Extra Income

I remember the first $83 I made from affiliate marketing—it wasn’t much, but it lit a fire. I was promoting a Bluetooth speaker, wrote a genuine review, and included my Amazon link. Two days later, a sale. That’s when I realized affiliate marketing isn’t about selling—it’s about connecting the right product to the right person.

If you’re an Amazon seller, you’re sitting on gold you haven’t mined yet. Affiliate marketing isn’t just for influencers or bloggers. As a seller, you’re already in the ecosystem. You know the products. You understand the trends. Now it’s time to turn that inside knowledge into another income stream.

What is Affiliate Marketing?

Affiliate marketing is a commission-based model where you earn a percentage every time someone buys a product through your custom link. The average affiliate marketer earns $8,038 per month, according to recent data from Authority Hacker. That’s not pocket change—that’s serious income potential.

The global affiliate marketing industry was valued at over $18.5 billion in 2024 and is projected to grow to $31.7 billion by 2031, with an 8% compound annual growth rate. This makes it one of the fastest-growing income opportunities online.

Amazon’s program, called Amazon Associates, is one of the most accessible platforms out there. You promote products, share links with your audience (via blog, social, email, YouTube), and Amazon sends you a cut when those links lead to a sale. For those wanting to learn more, affiliate marketing for beginners resources can provide a deeper background.

What makes it perfect for Amazon sellers? You’re already plugged into products that sell. You speak the language. That gives you an edge most affiliates only wish they had.

How to Choose the Right Affiliate Programs on Amazon

Start with commission rates, then look at buyer demand. Research from Authority Hacker shows that experienced affiliate marketers (those with 3+ years of experience) earn 9.45 times more than beginners. This gap comes largely from knowing which programs to promote.

Top-performing Amazon affiliate categories include:

• Amazon Games → 20% commission
• Luxury Beauty → 10%
• Luxury Stores Beauty → 10%
• Furniture & Home Improvement → Up to 8%

Don’t just chase the percentage. A $10 product at 20% gives you $2. A $300 item at 5% gives you $15. Do that math every time before you commit. For a detailed breakdown of how these payments work, check out affiliate commissions explained.

Use tools like Google Trends and Amazon Best Sellers to check if people are actively buying in the niche. These insights can be combined with proven strategies for affiliate marketing success to maximize your returns.

📌 Real-world example: A friend of mine switched from promoting low-cost fashion to Amazon Games. With fewer clicks, she doubled her monthly earnings during the holiday season by creating strategic content around trending game releases.

Creating Content That Converts

Your job is not to “sell.” It’s to help people buy the right thing. Nearly 70% of successful affiliate marketers use SEO to drive organic traffic, according to AffiliateWP. This shows the importance of creating content that both ranks and converts.

The content that earns affiliate dollars follows a simple formula:

1. Clear headline (Example: “Top 5 Air Fryers That Won’t Waste Your Time”)
2. Honest opinions based on personal insight
3. Feature + benefit breakdown
4. Clear calls to action (Use buttons or anchor text like “Check today’s price on Amazon”)

The formats that work best:

• Product reviews with side-by-side comparisons
• “Best X for Y” roundups (e.g., best pet cameras for busy dog owners)
• Deep dives based on FAQs (e.g., Can I use this dehumidifier in basements?)

Video content increases conversion rates by 49%, making it a crucial addition to your content strategy. Implementing these best affiliate marketing tips can help you create content that both engages readers and generates sales.

⚡ Pro tip: People skim. Use bold headers, bullet points, and product images. Guide their eyes down the page toward the affiliate link, not away from it.

Strategies to Increase Affiliate Sales

You want to maximize your clicks—and more importantly, your conversions. Here’s how:

• Capitalize on seasonal shopping windows: Black Friday, Cyber Monday, and Amazon Prime Day. These periods often include boosted commission rates and red-hot buyer intent.

• Optimize your SEO: Use long-tail keywords like “best beginner wireless earbuds under $50” in your H2s and introduction.

• Improve page speed and mobile optimization: You lose trust (and sales) with a slow site.

• Use internal linking: Keep users engaged by linking related posts, keeping readers within your content ecosystem longer.

For those just starting out, check out our guide on affiliate marketing for beginners to build a strong foundation.

And remember—make your affiliate disclosures clear and compliant. This builds trust and protects your reputation. Being transparent about your affiliate relationships is not just ethical, it’s required.

Building Trust With Your Audience

Nothing kills affiliate performance faster than broken trust. The most successful affiliate marketers understand that long-term relationships with readers far outweigh short-term commissions.

Here’s how you keep it real:

• Be ultra-transparent (“I may earn a commission if you buy through my link—at no cost to you.”)

• Only recommend products you’ve used, tested, or would recommend to your own family.

• Add a comment section or feedback form for two-way interaction.

• Maintain consistency in brand voice—whether you’re blogging, tweeting, or shooting YouTube videos.

Following affiliate marketing best practices from authorities like the FTC ensures you’re building trust the right way. The goal? To build a reputation where people follow your links because they trust your opinion—not because you’re shouting the loudest.

Scaling with Tools and Platforms

Once you’re earning consistent income, it’s time to scale:

• Use Geniuslink to localize your Amazon links (it ensures buyers in Canada or the UK are sent to the right storefront)

• Create evergreen content like “Best USB-C Chargers for 2025” to drive long-term passive clicks

• Pair your blog content with short YouTube explainer videos (Google is showing video in more search results than ever)

• Build an email list – A simple weekly newsletter (“Deals I’m loving”) can drive substantial, compounding clicks over time.

• Join other affiliate networks to test non-Amazon products—diversify when it makes sense

With these tools and approaches, even a small audience can generate significant affiliate income. It’s about quality connections, not just the quantity of followers.

Conclusion: From Product Knowledge to Passive Income

Affiliate marketing isn’t hard—but it does reward strategy, honesty, and consistency. You don’t need a massive audience. You just need the right offer in front of the right person at the right time.

As an Amazon seller, you already have product instincts and a grasp of the market. Affiliate marketing just adds a second lane to your revenue highway. You’re not starting from scratch—you’re building on what you already know.

Want help leveling up your online marketing strategy and scaling profitably? Head over to Complete Controller for expert guidance built for results. We help entrepreneurs manage their finances so they can focus on growing their businesses—including new revenue streams like affiliate marketing.

FAQ

How do I join the Amazon Affiliate program?

Sign up at affiliate-program.amazon.com with your website, blog, or qualifying social media account. You’ll need to provide details about your content and how you plan to drive traffic. Amazon will review your application within 24 hours in most cases.

What are the highest commission rates on Amazon Associates?

Amazon Games tops the list with a 20% commission rate. Other high-performers include Luxury Beauty and Luxury Stores Beauty at 10%, and Furniture & Home Improvement at up to 8%. Commission rates can change, so always check the current rates before selecting categories.

Can I promote my own Amazon products as an affiliate?

No, Amazon’s terms prohibit you from earning affiliate commissions on your own products. However, you can promote complementary products that work well with items you sell, creating a complete ecosystem for your customers.

How long does it take to start earning significant affiliate income?

Most successful affiliates see meaningful results within 6-12 months. Remember that experienced marketers earn 9.45 times more than beginners, so patience and persistence are key. Focus on creating quality content consistently rather than expecting overnight success.

What happens if Amazon rejects my affiliate application?

Amazon may reject applications for incomplete information, lack of content, or policy violations. If rejected, review Amazon’s feedback, improve your site or content strategy, and reapply after addressing the issues. Sometimes simply adding more content or clarifying your promotion methods is enough to get approved on a second attempt.

Sources

• Authority Hacker. (2025). 136 Affiliate Marketing Statistics in 2025. https://www.authorityhacker.com/affiliate-marketing-statistics/
• Wix.com. (2025). Affiliate Marketing Statistics and Facts for 2025. https://www.wix.com/blog/affiliate-marketing-statistics
• AffiliateWP. (2025). 40+ Affiliate Marketing Statistics for 2025. https://affiliatewp.com/affiliate-marketing-statistics/
• Hostinger. (2025). Affiliate Marketing Statistics 2025: Key Trends and Industry Growth. https://www.hostinger.com/tutorials/affiliate-marketing-statistics
• Complete Controller. (n.d.). 5 Essential Marketing Strategies to Help Grow Your Business. https://www.completecontroller.com/5-essential-marketing-strategies-to-help-grow-your-business/
• Complete Controller. (n.d.). How to Use Content to Set Yourself Up as a Thought Leader. https://www.completecontroller.com/how-to-use-content-to-set-yourself-up-as-a-thought-leader/
• Complete Controller. (n.d.). Startup Marketing Success. https://www.completecontroller.com/startup-marketing-success/
• Wikipedia. Affiliate Marketing. https://en.wikipedia.org/wiki/Affiliate_marketing
• Investopedia. Affiliate Marketing. https://www.investopedia.com/terms/a/affiliate-marketing.asp
• Federal Trade Commission. (n.d.). FTC’s Endorsement Guides: What People Are Asking. https://www.ftc.gov/tips-advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-asking
• Amazon Associates Program. https://affiliate-program.amazon.com
• Shopify. Amazon Affiliate Marketing Guide.
• Publift. Top Performing Affiliate Strategies.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Repaying a mortgage is a critical financial decision requiring much thought before execution. People commonly think paying off the mortgage is a good thing. If you have saved money and have some financial sense, you must decide whether to pay off your mortgage or use that savings to invest and grow your money.

Mortgages are one of the most common types of loans. Suppose you have some savings and consider paying off part of the mortgage in advance. In that case, you must consider many variables and assess the better use of your savings, paying off the mortgage, or investing. 

To make a good decision, you must first know the most important thing: nothing but understanding what repaying a mortgage is and when you can do it. There are distinct advantages and disadvantages to paying off your mortgage early. 

What is the Mortgage Repayment?

Repaying a mortgage is paying extra money on your real estate loan to reduce the monthly payment or shorten the loan duration. You can partially repay the loan amount and shorten the length of the loan. The partial repayment of the entire loan is generally more feasible, given that few people save enough to cancel the mortgage loan altogether.

The average amount of a mortgage loan in the US is approximately $150,000, with a repayment term of between 25 and 30 years. If you pay a monthly installment of $1,000 without considering the fluctuations of the interest rates, you could reduce your mortgage by $12,000 a year, with less interest and expenses.

But if to the monthly installments, you add an extraordinary $10,000 as repayment. You would reduce your loan considerably in one cut. In that case, you have two options: reduce the amount of your monthly liability or reduce the life of the loan.

When is it Good to Cancel Your Mortgage Early?

Is it better to use savings to pay off early canceled mortgages, or is it better to use that money to invest? The answer is somewhat complex, and there are four factors that you should keep in mind:

• When did you sign the mortgage contract?
• The interest on the mortgage?
• Your knowledge of investment products?
• Your risk tolerance?

Should You Pay Off the Mortgage?

You have several legal assumptions regarding repayment, the most important being that you bought the property before 2013. So, you can deduct a maximum limit of $9,040 annually if you are the sole owner or $18,080 if you share the loan ownership and declare taxes separately.

In those cases, the Treasury returns 15% of the amount contributed by investment in habitual residence.

However, there are some assumptions in which you can deduct the amortization of your mortgage as indicated in the 2018 Income Practical Manual for the 2020 campaign, published by the Tax Agency.

Amortize Mortgage by Interest

An essential factor to consider is your interest rate for your fixed or variable mortgage. Since the great financial crisis at the end of the last decade, central banks have embarked on policies to lower interest rates, which impacted the cost of mortgages.

Today, it is normal to find mortgages that pay 2% or even less. Against this information, it is wise to analyze whether you must pay a loan that costs 2% per year or invest in the stock market or equities that offer an average of 10% each year.

Faced with a low-interest rate scenario, we should evaluate the possibility of investing the money to gain from the interest rate differential. It is a risk, but you can earn a little money in that operation. In addition, you can always withdraw the money from the investments and pay off the mortgage if the Federal Reserve decides to raise interest rates.

Your Knowledge About Investing

Suppose you do not know much about the product you will invest in and are interested in paying your debts as soon as possible. In that case, the decision is straightforward, and amortizing the most money is your thing. This way, you will leave the mortgage as soon as possible.

How Tolerant You are to Risk

If you know about investments and you like risk, the option you could consider would not be to reduce the time of your mortgage through early repayment but to invest that money saved. In the stock market, you can make an average of between 5 and 10% per year, while you pay about 2% in a mortgage.

If you have a conservative risk profile and a low level of risk, it would be best to pay off the mortgage. On the other hand, if you have a moderate or aggressive risk profile, you may find it more profitable to allocate the savings to investment products.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Going by what the statistics suggest, COVID-19 affected small and large businesses. The global market went down in its operations, and economies of the world had to face the brunt of all such inconveniences. The outbreak posed severe challenges to the strategists to devise strategies to help businesses continue their operations.

The circumstances had more extraordinary minds brainstorm ideas where experts could devise plans to cope with the aftermaths of the outbreak. According to statistics, FTSE witnessed a 14.3% drop in 2020. It was by far the worst performance since 2008. Because of this, several countries’ stock markets cut down their interest rates, which helped economies grow as it encouraged consumers spending power.

On the other hand, the past year was difficult for job seekers. Most businesses halted their operations, and most employees lost their jobs. The proportion escalated to 8.9% in the United States, as explained by the International Monetary Fund. The tourism industry also halted its operations as the world went into lockdown.

The IMF puts the global economy squeezed by 4.4% in 2020. This decline is considered the worst since the Great Depression that hit the world in the 1930s. That said, considering the world closed down its hospitality sectors, millions of employees lost their jobs, and companies went bankrupt. As a result, the global tourism industry crumbled into bits and pieces.

The tourism industry lost billions of dollars last year. The entire world is said to struggle with the same condition till 2025. However, according to forecasters, 2021 is when things can go to their former state. Let’s discuss how the pandemic turned the global market local again.

Airline Services Going Down All Around the Globe

As already discussed earlier, airline services went down last year. With hospitality shutting its doors worldwide, millions of people couldn’t get the chance to travel. Millions of people died last year and were buried without getting goodbyes from their loved ones, which is why the year was one of the saddest years in history.

The shutdown in the airline services had companies operating internationally to start their functions locally. Instead of halting their routine operations completely, they cut down their frequency of operations and resorted to running their operations on small scales.

Online Sessions 

Schools, colleges, universities, educational institutes, and companies worldwide operated from online platforms during the pandemic. Students took their classes online, and most world giants conducted meetings and sessions online as a precautionary measure to stay healthy and well and save employees from contracting the virus. It wouldn’t be wrong to say that these online platforms were a reason; most companies could come out of such repercussions.

From platforms like Zoom, experts in their respective fields decided to conduct their business-related strategies to develop solutions to the problems. Platforms like this generated robust returns and made larger-than-life profits. As a result, continuing with routine business operations didn’t become a hassle for them. 

Companies Operating Digitally

Considering how the world’s giant fell, companies resorted to online platforms. Companies and consumers decided to look for brands with online channels. According to surveys, about 80% of customers interact with brands through digital media during the pandemic. Since then, the situation hasn’t changed one bit.

As a result, companies have adopted new and better platforms and have taken on programs to develop strategies that improve their operations and help them become stronger after the pandemic’s aftermaths start to fade.

Advantages of Operating on Small-Scales During the Pandemic 

Some of the repercussions the pandemic brought were closed operations and businesses going bankrupt, employee turnover, and many more. However, new strategies also took the front seat, and companies found ways to operate even in such conditions.

Out of such strategies, one strategy that sold the deal for many companies operating locally generated substantial results. It helped the companies continue their operations locally, following precautionary measures to ensure every customer’s health is prioritized in their utmost capacity.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Understanding the Psychological Effects of the Pandemic

The psychological effects of the pandemic include a 25% global increase in anxiety and depression rates, widespread social isolation impacts, financial stress-related mental health challenges, and long-term trauma responses that continue affecting millions worldwide. From unprecedented workplace burnout to disrupted child development patterns, COVID-19 created a mental health crisis spanning all demographics, with young adults experiencing the highest rates of psychological distress at 65% for anxiety and 61% for depression.

As the CEO of Complete Controller for over two decades, I’ve guided businesses through economic downturns, natural disasters, and countless challenges—but nothing prepared me for the mental health tsunami that COVID-19 unleashed. When we transitioned our team overnight to remote work, I watched talented professionals struggle with isolation, witnessed clients battle financial anxiety, and experienced firsthand how traditional business resilience strategies fell short against this invisible enemy. The statistics tell a sobering story: 90% of countries scrambled to include mental health support in their pandemic response plans, yet major care gaps persist, leaving business leaders searching for practical solutions to support their teams while managing their own psychological well-being.

What are the psychological effects of the pandemic?

• The pandemic created widespread anxiety, depression, social isolation trauma, financial stress disorders, and long-term PTSD affecting all age groups globally
• Anxiety rates increased to 50% and depression to 44% among U.S. adults—six times higher than pre-pandemic baselines
• Young adults aged 18-29 suffered most severely with 65% reporting anxiety symptoms and 61% experiencing depression
• Women, low-income populations, and people of color faced disproportionately higher mental health impacts throughout the crisis
• Long-term effects continue manifesting as increased PTSD, social anxiety disorders, persistent fear responses, and workplace burnout years after initial lockdowns

The Scope and Scale of Pandemic Mental Health Impact

The World Health Organization documented that global prevalence of anxiety and depression increased by a massive 25% in the first year of the COVID-19 pandemic, affecting millions of individuals worldwide and representing one of the largest mental health crises in modern history. This staggering increase touched every corner of society, from frontline healthcare workers facing daily trauma to isolated elderly populations cut off from family support systems.

Research from Boston College revealed even more dramatic numbers among specific populations, with anxiety reports reaching 50% and depression hitting 44% among U.S. adults by November 2020—rates six times higher than 2019 baselines. Young adults aged 18-29 bore the heaviest psychological burden, experiencing anxiety at 65% and depression at 61%, making them the most vulnerable demographic throughout the pandemic period.

Historical context: Learning from the spanish flu

The 1918 Spanish flu pandemic provides crucial historical perspective for understanding current mental health impacts. During that global crisis, mental hospital admissions increased by 7.2 times the normal rate in the six years following the pandemic’s end. Spanish flu survivors reported strikingly similar symptoms to what millions experience today: persistent sleep problems, chronic depression, concentration difficulties, and workplace functioning challenges that lasted years beyond the initial health emergency.

This historical parallel demonstrates that extended mental health impacts represent a normal, predictable outcome following global health crises rather than an unexpected consequence. The Spanish flu’s psychological aftermath teaches us that recovery timelines extend far beyond viral containment, requiring sustained mental health support infrastructure and long-term treatment planning for affected populations.

Demographic Disparities in Mental Health Outcomes

Women consistently reported higher anxiety and depression rates compared to men throughout the pandemic, with 36% of women experiencing symptoms versus 28% of men by February 2023. This gender disparity reflects both pre-existing mental health reporting differences and unique pandemic stressors including increased caregiving responsibilities, higher domestic violence exposure rates, and disproportionate job losses in female-dominated industries.

Economic factors created devastating psychological impacts, with individuals experiencing household job loss showing dramatically elevated rates of anxiety and depression at 53% compared to 30% among those maintaining employment. Lower-income households faced the steepest mental health challenges, with 53% reporting psychological distress compared to 38% in middle-income and 30% in upper-income households, highlighting how financial resources provide crucial psychological resilience during crisis periods.

Age-based disparities revealed particularly concerning trends, with research from over 3 million Americans showing that adults aged 18-39 experienced anxiety at 40% and depression at 33%, compared to just 20% anxiety and 16% depression in adults over 60. The gap between young and older adults actually widened as the pandemic progressed, indicating that younger generations struggled more severely with long-term pandemic stress adaptation.

Cultural and ethnic mental health variations

Hispanic/Latino/a/x participants reported significantly higher depression and trauma scores compared to other ethnic groups, revealing how structural inequalities and cultural factors influenced pandemic psychological responses. Language barriers to accessing mental health resources, multi-generational household stress, and higher rates of essential worker exposure combined to create compounded psychological distress in these communities.

Healthcare access disparities meant that communities of color often lacked adequate mental health support despite experiencing higher psychological burden. Cultural stigma around mental health help-seeking in many communities further complicated recovery efforts, creating invisible suffering that traditional healthcare metrics failed to capture fully.

The Intersection of Physical and Mental Health

Long COVID patients face uniquely complex psychological challenges extending far beyond general pandemic populations. Research indicates that anxiety, depression, and PTSD rates among long COVID sufferers significantly exceed baseline pandemic mental health statistics, with inflammation and immune activation directly driving psychological symptoms including severe depression and suicidal ideation.

The chronic nature of long COVID creates cascading mental health impacts as patients struggle with persistent fatigue, cognitive dysfunction, and physical limitations preventing normal daily activities. Being unable to work, care for families, or engage in previously meaningful pursuits generates profound psychological distress that compounds physical symptoms, creating difficult recovery cycles requiring specialized integrated treatment approaches.

Healthcare professionals treating long COVID report that traditional mental health interventions often prove insufficient without addressing underlying physiological drivers. This mind-body connection highlights how pandemic mental health extends beyond psychological support to require comprehensive medical care addressing both physical and emotional symptom clusters.

Social Isolation and Its Lasting Psychological Impact

Government-mandated lockdowns and social distancing requirements created unprecedented social disconnection levels, fundamentally altering relationship maintenance patterns and support system access. Countries implementing stricter COVID-19 restrictions showed consistently worse mental health outcomes throughout extended study periods, demonstrating how public health measures inadvertently generated significant psychological costs.

Research tracking pandemic mental health trajectories found that increased loneliness directly correlated with deteriorating psychological well-being at every follow-up assessment. Individuals with high social rejection sensitivity proved especially vulnerable to isolation’s mental health impacts, experiencing more severe anxiety and depression symptoms than those with stronger pre-existing social resilience.

Young people suffered disproportionately from social isolation effects, with adolescents and young adults losing critical peer interaction opportunities during crucial developmental periods. School closures, cancelled social events, and restricted gatherings removed primary social connection sources precisely when young people most needed peer support for emotional regulation and identity formation.

Digital connection limitations

While technology provided some social connection during isolation periods, research revealed that online interactions could not adequately replace in-person relationships for maintaining psychological well-being. Changes in digital social contact frequency showed no significant relationship to mental health outcomes, suggesting virtual connections alone proved insufficient for combating isolation’s psychological effects.

Video calls created “Zoom fatigue” and heightened self-consciousness, while social media often amplified anxiety through constant negative news exposure and unfavorable social comparisons. Many individuals reported feeling more isolated after digital interactions, highlighting technology’s limitations in providing genuine emotional connection during crisis periods.

Workplace Mental Health and Remote Work Challenges

The rapid shift to remote work introduced novel psychological stressors including boundary dissolution between professional and personal life, communication difficulties, technological frustrations, and loss of informal colleague support. Employees reported symptoms ranging from acute stress and emotional exhaustion to chronic anxiety specifically related to remote working conditions.

Complete Controller’s experience transitioning to fully remote operations revealed how even well-prepared organizations faced unexpected mental health challenges. Team members struggled with isolation despite regular video meetings, managers reported difficulty recognizing employee distress through screens, and productivity metrics failed to capture the psychological toll of endless home-based workdays.

A comprehensive workplace mental health study covering 282,960 employees across 66 employers demonstrated that structured mental health programs deliver measurable results. Organizations implementing screening, video therapy access, and care navigation saw significant improvements in employee depression and anxiety levels, reduced absenteeism, and positive return on investment—proving that mental health support benefits both employees and bottom lines.

The evolution of workplace mental health support

Forward-thinking organizations expanded employee assistance programs, introduced mental health days, created flexible scheduling options, and invested in manager training for psychological distress recognition. Companies prioritizing employee mental health experienced lower turnover rates, maintained productivity levels, and attracted top talent as mental health benefits became competitive necessities rather than optional perks.

The pandemic permanently altered workplace mental health expectations, with employees now expecting comprehensive psychological support as standard benefits. Organizations failing to adapt face ongoing recruitment challenges and engagement issues as workers prioritize employers demonstrating genuine commitment to mental well-being.

Children and Adolescent Development Disruption

School closures affected far more than academic learning, removing crucial mental health support structures, meal programs, counseling services, and safe spaces for millions of children. Adolescents experienced substantial increases in anxiety, depression, and PTSD symptoms, with effects varying based on age, family circumstances, and pre-existing mental health conditions.

The gender gap in adolescent mental health widened dramatically during the pandemic, with 57% of females versus 29% of males reporting depressive symptoms by 2021. This disparity suggests pandemic disruptions particularly impacted young women’s psychological development, possibly due to greater reliance on social connections for emotional regulation and identity formation during these crucial years.

Educational disruption created new forms of academic anxiety as students navigated technology barriers, inadequate home learning environments, and reduced teacher support. Performance pressure intensified while traditional support structures disappeared, generating stress about academic achievement and future opportunities that compounded existing family tensions.

Building Resilience Through Evidence-Based Strategies

Mindfulness practices emerged as particularly effective pandemic coping strategies, with practitioners reporting significantly lower distress levels across all age groups. Older mindfulness practitioners showed decreased anxiety and depression while younger practitioners experienced reduced distress over time, demonstrating how contemplative practices help people tolerate difficult emotions and reduce avoidance behaviors.

The dramatic expansion of telehealth services revolutionized mental health care access, jumping from less than 1% of visits pre-pandemic to 40% at peak periods. Even as in-person care resumed, telehealth maintained 36% of mental health appointments, indicating that virtual therapy successfully removed traditional barriers, including transportation, scheduling, and geographic limitations.

• Practice daily mindfulness or meditation for 10-15 minutes to reduce anxiety
• Maintain regular sleep schedules despite disrupted routines
• Create structured daily activities replacing lost external schedules
• Limit news consumption to specific times rather than constant monitoring
• Engage in regular physical exercise adapted to available space
• Connect with support networks through scheduled video or phone calls
• Seek professional help through expanded telehealth options when needed

Final Thoughts

The pandemic’s psychological effects extend far beyond initial health fears, creating lasting impacts on how we work, connect, and support mental well-being. While statistics reveal devastating mental health consequences across all demographics, they also highlight remarkable human resilience and adaptation capacity. Organizations that invested in comprehensive mental health support saw concrete returns through improved employee well-being and business performance.

Moving forward, the lessons learned from this global mental health crisis must inform how we structure workplaces, educational systems, and healthcare delivery. The normalization of mental health discussions and expansion of treatment access represent positive outcomes from an otherwise tragic period. For business leaders navigating ongoing psychological challenges while supporting their teams, professional guidance can make the difference between merely surviving and genuinely thriving.

If you’re ready to build a mentally healthier, more resilient organization while managing the complex financial and operational challenges of post-pandemic business, contact the experts at Complete Controller for comprehensive support tailored to your unique needs.

Frequently Asked Questions About Psychological Effects of Pandemic

How long do psychological effects of the pandemic typically last?

Research from previous pandemics like the 1918 Spanish flu shows mental health impacts can persist for 6+ years after the initial crisis. Current studies indicate that anxiety, depression, and PTSD symptoms from COVID-19 may continue affecting individuals for years, with recovery timelines varying based on personal circumstances, support systems, and access to mental health care.

Which age group was most psychologically affected by the pandemic?

Young adults aged 18-29 experienced the highest rates of psychological distress, with 65% reporting anxiety and 61% reporting depression during peak pandemic periods. This demographic faced unique challenges including educational disruption, job market uncertainty, and loss of crucial social development opportunities during formative years.

Can working from home permanently damage mental health?

Remote work itself doesn’t inherently damage mental health, but poor implementation without proper boundaries, social connection, and support structures can create lasting psychological challenges. Successful remote work requires intentional strategies including defined work hours, regular social interaction, ergonomic workspaces, and employer mental health support.

What are signs that pandemic stress has become a serious mental health condition?

Warning signs include persistent anxiety or depression lasting over two weeks, inability to complete daily tasks, significant sleep disruption, substance use increases, social withdrawal, persistent physical symptoms without medical cause, or thoughts of self-harm. These symptoms warrant immediate professional mental health evaluation.

How can employers support staff still struggling with pandemic-related mental health issues?

Effective employer support includes offering flexible work arrangements, providing access to employee assistance programs, training managers in mental health awareness, normalizing mental health discussions, offering mental health days, ensuring comprehensive health insurance coverage includes mental health services, and creating psychologically safe work environments where employees feel comfortable seeking help.

Sources

• World Health Organization. (2022, March 2). “COVID-19 pandemic triggers 25% increase in prevalence of anxiety and depression worldwide.” WHO News Release. https://www.who.int/news/item/02-03-2022-covid-19-pandemic-triggers-25-increase-in-prevalence-of-anxiety-and-depression-worldwide
• JAMA Network Open. (2023). “Age Disparities in Anxiety and Depression During the COVID-19 Pandemic.” Koma, W., et al. https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2812389
• Boston College. (2020). “Mental Health Impact of COVID-19 on Young Adults.” Research Report.
• World Health Organization. Mental Health Topics. https://www.who.int/health-topics/mental-health#tab=tab_1
• Centers for Disease Control and Prevention. “Coping with Stress.” https://www.cdc.gov/mentalhealth/stress-coping/index.html
• Kaiser Family Foundation. (2021). “Mental Health Impact of the COVID-19 Pandemic: An Update.”
• Journal of Clinical Medicine. (2021). “Impact of COVID-19 on Child and Adolescent Mental Health.”
• Journal of Clinical Psychology. (2022). “Mindfulness Practice and Mental Health Outcomes During COVID-19.”
• Nature Medicine. (2022). “Long COVID and Mental Health Outcomes.”
• Kaiser Family Foundation. (2021). “Telehealth Has Played an Outsized Role Meeting Mental Health Needs During the COVID-19 Pandemic.” https://www.kff.org/mental-health/telehealth-has-played-an-outsized-role-meeting-mental-health-needs-during-the-covid-19-pandemic/
• Psychiatric Times. (2021). “The Spanish Flu Pandemic and Mental Health: A Historical Perspective.” Mamelund, S. E. & Dimka, J. https://www.psychiatrictimes.com/view/spanish-flu-pandemic-and-mental-health-historical-perspective
• JAMA Network Open. (2022). “Outcomes Associated With a Workplace Mental Health Program in the Context of the COVID-19 Pandemic.” Bondar, J., et al. https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2793174
• National Institute of Mental Health. “Coping with Stress.” https://www.nimh.nih.gov/health/topics/coping-with-stress
• Complete Controller. “Remote Work Security Post-COVID.” https://www.completecontroller.com/remote-work-security-post-covid/
• Complete Controller. “Managing Business Accounting.” https://www.completecontroller.com/managing-business-accounting/
• Complete Controller Blog. https://completecontroller.com/BLOG

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Mastering the Art of Clearing Suspense Accounts Effectively

Clearing suspense accounts involves systematically resolving unclassified transactions held in temporary accounting ledgers by identifying discrepancies, making accurate journal entries, and reconciling balances to zero—ensuring error-free financial records and compliance. This foundational process is critical for maintaining audit-ready books and preventing financial misstatements that could trigger penalties or damage stakeholder trust.

After two decades leading Complete Controller, I’ve witnessed how unresolved suspense items can cascade into compliance nightmares costing businesses thousands in penalties and countless hours of stress. One manufacturing client recently avoided a $50,000 audit penalty by implementing our clearance protocol—transforming their suspense account from a financial black hole into a model of precision. In 1494, Luca Pacioli’s ledger-based suspense entries took weeks to resolve; today, 97% of transactions auto-clear in minutes through modern tools. This article reveals the exact steps we use to achieve this transformation, from systematic identification protocols to automation strategies that slash reconciliation time by 92%.

What does mastering the art of clearing suspense accounts effectively entail?

• Clearing suspense accounts effectively means resolving unclassified transactions through identification, investigation, correction, and reconciliation to zero balance
• Speed and accuracy are achieved through documentation protocols and stakeholder collaboration
• Error prevention requires regular reviews and automated matching tools
• Financial integrity is maintained by preventing audit risks and misstated reports
• Scalability is ensured through adaptable processes for growing transaction volumes

Understanding Suspense Accounts: Your Financial Holding Area

Suspense accounts serve as temporary holding zones for transactions lacking classification details, such as unidentified payments or invoice discrepancies. These ledger accounts preserve accounting continuity while investigations occur, preventing financial statement errors during reporting periods. Their temporary nature demands timely resolution—ideally within 30 days—to avoid compliance risks and maintain accurate financial reporting.

Common triggers include partial payments without invoice references, supplier bills with unallocated cost centers, and trial balance mismatches during month-end closing. During my years at Complete Controller, I’ve seen 78% of small businesses experience suspense entries quarterly, often stemming from payment identification gaps or data entry ambiguities. Each unresolved entry represents not just a number, but a potential relationship issue with a client or vendor waiting for clarity.

Step-by-Step Guide to Clearing Suspense Accounts

The foundation of effective suspense account management lies in a systematic approach that transforms confusion into clarity. Your first priority is creating visibility into what needs resolution.

1st Step: Identify and list transactions

Initiate by cataloging every entry in the suspense ledger, recording dates, amounts, and available clues. This inventory becomes your clearance roadmap. Digital tools like shared cloud trackers prevent oversight of aging items while creating accountability across your team. Export your suspense account details into a spreadsheet, noting transaction dates, amounts, and any identifying information like partial reference numbers or bank codes.

2nd Step: Investigate discrepancies

Cross-reference each item with bank statements, invoice records, and stakeholder communications. Contact clients to match unidentified deposits to open invoices or verify expense receipts with department heads. At Complete Controller, we use a 48-hour escalation matrix for unresolved items—first attempting email contact, then phone calls, and finally involving senior management for critical amounts.

3rd Step: Make corrective journal entries

Move validated transactions using proper double-entry bookkeeping:

• Debit suspense account, credit accounts receivable for identified customer payments
• Debit departmental expense accounts, credit suspense for cost-center allocations
• Debit suspense, credit revenue for properly classified income items

Modern accounting platforms like Xero or Manager.io reduce entry errors by 60% through automated validation rules.

4th Step: Reconcile and zero out

Confirm your suspense account balance reaches zero through reconciliation reports. Document resolutions for audit trails—this step closes the loop and provides evidence of your diligent account management. Print or save digital copies of all supporting documentation, creating a clear trail for future reference or audit requirements.

Leveraging Automation to Minimize Suspense Account Volume

Companies using transaction-matching software cut manual reconciliation time from 30 hours to 2.5 hours monthly, freeing staff for strategic work. This dramatic 92% reduction transforms your accounting department from reactive processors to proactive financial advisors.

Platforms like Finexer sync live bank feeds, using rules-based logic to auto-match 80% of transactions. The technology identifies patterns in your transaction history, learning from past classifications to suggest future matches. Configure alerts for entries aging beyond 7 days to prevent backlog accumulation, and surface only complex mismatches like split vendor payments for human review.

One client reduced their accounting team from 30 to 9 staff members while processing the same transaction volume, simply by implementing intelligent matching rules. The key lies in starting with simple rules—exact amount matches, recurring vendor patterns—then gradually adding complexity as the system learns your business patterns.

Suspense Accounts and Financial Audits: Mitigating Compliance Risks

Uncleared suspense entries trigger scrutiny in 92% of small business audits. Mid-sized businesses average $20,000 monthly write-offs due to unresolved suspense entries, often from unallocated payments or misclassified expenses. These statistics underscore why proactive management isn’t optional—it’s essential for financial survival.

Maintain audit-ready documentation trails showing investigation timelines, stakeholder correspondence, and correction approvals. Create a standard operating procedure document detailing your clearance process, review frequencies, and escalation protocols.

Recently, a manufacturing client stored $12,000 of unidentified receipts in suspense for six months. During an audit, our team resolved all items in 72 hours using payment tracing tools and stakeholder outreach, avoiding penalties that could have reached five figures. The key was having organized documentation and clear communication channels already established.

The Human Side of Suspense Accounts: Building Client Trust Through Transparency

Behind every suspense entry lies a human relationship—a client wondering if their payment was received, a vendor questioning invoice status, or an employee awaiting expense reimbursement. Notify clients when their payments enter suspense, requesting invoice details via templated emails. This proactive communication reduces recurrence by 45% while demonstrating your commitment to accuracy.

Train your team through quarterly workshops on transaction coding standards. Role-play scenarios like handling incomplete remittance advices or investigating wire transfers with minimal information. Create a culture where asking questions is encouraged and where team members understand that every cleared transaction strengthens client relationships.

I’ve found that transparency transforms potential conflicts into trust-building opportunities. When clients see you actively managing their transactions with care, they recognize you as a true financial partner, not just a service provider.

Scaling Suspense Management for Business Growth

Growing businesses face unique challenges as transaction volumes increase. UK accounting standard FRS 102 mandates disclosure of material suspense balances exceeding 0.5% of monthly revenue, forcing transparency that protects stakeholders.

For enterprises, implement clearing accounts as interim hubs before final allocation. This approach layers precision without sacrificing speed, particularly useful for batch-processing retail deposits or managing multi-entity consolidations. Dedicate specialized staff for high-frequency reconciliation, implement tiered approval thresholds based on amount or aging, and segment suspense ledgers by transaction type for targeted resolution strategies.

Technology becomes crucial at scale—API connections between your accounting system and bank feeds eliminate manual entry errors while machine learning algorithms predict transaction classifications with increasing accuracy over time.

Conclusion

Throughout my career building Complete Controller, I’ve learned that suspense account management isn’t just accounting—it’s financial storytelling where each resolved entry reflects your commitment to accuracy and client service. The journey from confusion to clarity mirrors the entrepreneurial path itself: systematic, purposeful, and ultimately rewarding.

By embracing these proven steps, you transform accounting ambiguity into actionable insights that strengthen your business foundation. Your dedication to clearing suspense accounts signals to clients, auditors, and stakeholders that you run a professional operation worthy of their trust. Ready to revolutionize your suspense account management? Connect with our expert team at Complete Controller for personalized strategies that fit your unique business needs.

Frequently Asked Questions About Clearing Suspense Accounts

How frequently should suspense accounts be reviewed?

Conduct weekly reviews with full clearance within 30 days to prevent audit risks and maintain accurate financial records.

Can I delete old suspense entries to “clean up” books?

Never delete entries—always investigate and resolve them properly. Deletions create compliance gaps and destroy audit trails.

What distinguishes suspense accounts from clearing accounts?

Suspense accounts hold unclassified items awaiting investigation, while clearing accounts temporarily batch known transactions en route to final accounts.

Do SaaS businesses need different suspense protocols?

Yes—SaaS companies should automate payment matching via API connections to handle subscription complexities and recurring billing patterns efficiently.

How does AI assist in suspense reduction?

Machine learning predicts transaction classifications with 95% accuracy after six months of training, dramatically reducing manual review requirements.

Sources

• AccountingTools. (2025). “What is a Suspense Account?”
• Complete Controller. (2023). “Clearing Suspense Accounts Step-by-Step.” www.completecontroller.com
• Indeed. (2025). “What Are Suspense Accounts?”
• Archer Lewis. (2024). “Suspense Account Reconciliation: What It Is and How to Do It.”
• Finexer. (2025). “How to Automate Matching and Minimise Suspense Accounts in 2025.”
• Your Legal. (2025). “Suspense Accounts: Managing Unclassified Entries.”
• FasterCapital. (2025). “Clearing Account: How Clearing Accounts Interact with Suspense Accounts.”
• Trintech. (2025). “CNG Holdings Case Study.” https://www.trintech.com/case-study/cngholdingsworkdayrecongroup/
• Bizmanualz. (2023). “Effects of Suspense Accounts.” https://www.bizmanualz.com/improve-accounting/suspense-accounts-definition-and-examples.html
• Gwern.net. (2004). “Origin of Double-Entry Bookkeeping.” https://gwern.net/doc/bitcoin/1938-peragallo-originandevolutionofdoubleentrybookkeeping.pdf
• Protax Accountant. (2024). “FRS 102 Suspense Rules.” https://www.protaxaccountant.co.uk/post/is-balance-brought-forward-entered-in-suspense-account
• Investopedia. “Suspense Account.” https://www.investopedia.com/terms/s/suspenseaccount.asp
• Internal Revenue Service. “Small Businesses and Self-Employed.” https://www.irs.gov/businesses/small-businesses-self-employed
• Deloitte. “Automated Processes for Clearing Accounts.” https://www2.deloitte.com/us/en.html

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

As we move forward emotionally and physically, we also shift how we live our lives. Our cell phones have evolved from inventing airplanes to developing phones, a technology the world is grateful for. With everything going digital, why should money take a pause? After all, cash leads the game.

Cryptocurrency is a type of payment that can be dealt with online only. You cannot touch it; you cannot see it. You can, however, see your progress. That’s all. This currency works using a technology called a blockchain.

Because of its demand and how it instantly vibes with the public, many different cryptocurrencies have taken the market by storm. Although the foundation for all of them is blockchain, using a decentralized technology spread across many computers that manage and record transactions.

This currency is hot in the market right now because of its tight-knit security. You won’t wake up one day fearing you’ll get robbed or walk through the streets questioning yourself if you’ve dropped a $100 note somewhere. Crypto saves us from that trouble, therefore appealing to the latest generation.

Convenience

This generation lives on convenience. With e-commerce on the rise, it only makes sense for crypto to take over the market. Here are a few ways Cryptocurrency is doing us all a favor:

• Reduced risk of fraud

With cash or money in bank accounts, being a victim of fraud is as easy as counting 123. With money supported by technology, it is nearly impossible to transfer your money fraudulently. The plus side of this currency is how it was created using technology. Blockchain technology helps tremendously in maintaining the integrity of crypto.

• Stability

With the world surprising us every other day, inflation and unstable currencies have become a part of our lives. We wake up daily not knowing if we’ll get the desired conversion rate. Unstable currencies have long been a part of the stock market, and it’s never something you can trust. For people who live in countries where inflation is at an all-time high, Cryptocurrency can change the narrative, and if we see the bigger picture, it can even help the country change for the better.

• Take back your control

With Cryptocurrency, you have control over your money. Sure, you can’t see it, but you can check its progress anytime you want. Every other day, there is a case of fraudulent activity or even institutions where we store our money, and acts are committed.

Our money is never safe. Someone or another will always have access to it. Keeping money in your house is also not safe. You see, that fear always lingers on if we have cash around us. Cryptocurrency is secure; it’s all under your eyes.

Types of Cryptocurrency

Since Cryptocurrency took over the market, many different currencies have come through. Here’s info on some of the most significant leagues:

• Bitcoin

Bitcoin is primarily leading the market. It has more liquidity because of its acceptance in the market. The idea here is the more a currency is used in the market as a medium of exchange, the more liquid it becomes. And that is precisely the case with Bitcoin. It has more exchanges, acceptability, hardware, and an intricate software system.

• Ethereum

Ethereum is fundamentally different because of its technology. Bitcoin is a currency; however, Ethereum is also a technology to build new and more extensive programs. Vitalik Buterin, the founder of Ethereum, summarized it, saying, ‘Ethereum is a smartphone while Bitcoin is a calculator.’

• Dogecoin

Initially created for humor to make fun of Bitcoin, Dogecoin has managed to up the stakes with Elon Musk backing up the game! Dogecoin can buy things or make payments online if those you deal with accept the respective currency.

Risk

Cryptocurrency is, after all, an investment. And as much as it has enormous potential to make you rich, is an investment not risky? The gamble here is volatility. You would never be advised to put your trust in the market, but prospective benefits act as a bribe well enough. It is a part of our innate nature for humans to feel pulled towards risk.

That does make sense. Because then we ask ourselves how superior we’ll feel once we win. Cryptocurrency does not seem that much of a risk for the generation that is winging it right now, and I’m guessing that’s alright. There’s always a way to bounce back. Because what if you win?

Conclusion

Cryptocurrency is risky, but it is also worth it. With everyone shifting to online currency, it won’t be too late till it’s not a choice anymore and more of a way of life. Having currency online that you can constantly keep track of, knowing where it’s going and where it’s not to the %, is our best choice.

It’s rather stressful keeping money in our banks only to find out later those fraudulent activities were committed, and we’ve lost all our hard-earned money. Therefore, it would be a rather brilliant idea to get in the game now and learn the ropes so that you’ll know the depths of this industry when the kids come through.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Every financially responsible adult should be focused on having a savings account. However, many don’t for one reason: lack of discipline. There is a distinct difference between those who build savings throughout their lives and those who fail to have the discipline to save.

Savings of any kind take discipline to achieve, whether saving for emergency funds, college for your children, buying a home, retirement, or opening a business. It also doesn’t matter if you have wealth or live paycheck to paycheck; saving money requires discipline.

Financial experts point out that disciplined savings are one of the keys to generating a solid financial future. They suggest paying yourself at least 10% of your income first. This money will be put into whatever savings accounts you choose. 

For example, a person who earns $10,000 a month would have to save between $1,000 and $1,500. Another way to decide what percentage of income to save is to consider your current age. If you are 25 years old, you have to save 25%; if you are 45, it will be 45%. In short, it would have to increase by 1% every year of your current age.

Automated Savings

Discipline is something every person should have when it comes to their finances. It requires focus and dedication to saving towards your goals. Because so many don’t feel they have the means to save, they don’t try. While you recommend putting a percentage of your income away, discipline doesn’t have an amount requirement. Start by putting something away, no matter the amount.

If this is your case, there are options to help you save, invest, and achieve your financial goals, including an automated savings program. It should be done on your payroll or other regularly deposited checks so you never see or touch the money.

Discipline doesn’t mean you must find a way to part with the money you need to save once you have it in your pocket or main bank account. Discipline is taking measures to save and stick to it using every tool at your disposal to accomplish your savings goals. You can make automatic deposits into your savings account in two ways.

You can have your banking institution automatically debit your checking account on a specific day of the month and deposit it into your savings account. Some banks will have automated options for deposit transactions that will allow you to designate a certain amount each month to be taken from another account or financial source and put in your savings.

You can also have your employer direct deposit your payroll check into a checking account and a designated amount to a savings account. This direct deposit can take one to two paychecks to begin after signing up. However, you can manually deposit into your checking and savings account.

Investment Savings 

With an investment savings program, you can hire an investment professional to make regular savings investments on your behalf or advise them on where to put your money each month. This type of savings can be for a specific or longer-term period.

If you use an investment company and give them the ability to do so, they will do all the investing and allocating savings revenue on your behalf. This type of savings is another way to have a hands-off approach, making it easier to work money into savings without missing it.

Life insurance is another way to have investment savings. Depending on the policy and terms, you can eventually borrow against the money you put into your life insurance policy. Also, you can sell your life insurance policy for a profit later in your life and use it for your final retirement years.

Conclusion

No matter what type of savings plan you put into action, the most important thing is that you have savings or multiple savings accounts or options. Whether you have an emergency expense that needs to be covered, you want to purchase a house, or you want to be able to live it up in your retirement years. Savings accounts are essential for everyone to have.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.